Summary by Moomoo AI
Zhongyuan Hai Holding released its first quarter report for 2024 on April 29, 2024, showing that the company's operating income grew slightly by 1.94% to RMB 482.7 billion, but net profit attributable to shareholders of listed companies fell by 5.23% to RMB67.55 billion. Net cash flow generated by operating activities increased by 44.07%, mainly due to a decrease in income tax in the previous quarter by domestic units. During the reporting period, cargo volume in the container shipping business increased 10.53%, but the efficiency of the shipping business decreased, resulting in a 6.99% decrease in EBIT year-on-year. IN ADDITION, THE COMPANY ANNOUNCED THAT IT WILL DISTRIBUTE A CASH DIVIDEND OF RMB0.23 PER SHARE TO ALL SHAREHOLDERS AND REPURCHASE THE COMPANY'S SHARES THROUGH A TIER II CENTRALIZED AUCTION. At the end of the reporting period, the total assets of ZTE and its affiliated companies decreased slightly by 0.65%, while the shareholders' equity of listed companies increased by 3.44%.